There’s a lot to unpack in the proposed R1.43bn takeover of Prescient’s financial services businesses by Stellar Capital Partners.I’m not a big fan of Stellar — yet. I’m not enamoured of the mix of investments; I like Torre for the longer term (the short term looks iffy), but I struggle to work up enthusiasm for Tellumat and Cadiz.I am quite fond of Prescient, though. Its fund management style suits the prevailing market volatility and it smartly shifted into administration services as regulations on financial service providers grew more onerous.What I suspect has hindered sentiment for Prescient is that it has suffered annual setbacks in the past few financial years that weighed down earnings.First there was the unexpectedly hasty retreat from an international foothold, and more recently the loss of a couple of big institutional mandates. Prescient, nonetheless, has still managed to grow assets under management, which now stand at R74bn. In short, I believe the Prescient takeover i...
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